With Summers out, Yellen is now favored to lead the Federal Reserve

In the last month, a groundswell of opposition from economists and the public alike has led to positive development. After a major announcement last week by 3 key Democratic Senators who said they would oppose the nomination of Larry Summers, it looks like Janet Yellen, currently the second in command at the Fed, is now favored to be President Obama’s pick to lead the Federal Reserve.

Watch this video on the nomination of Janet Yellen, the first woman nominated to the Chair of the Fed.